FORECLOSED..... OWNER/RENTER to SQUATTER/TRESPASSER Part 2

If you are like millions of others, you are in a foreclosure scenario right now as we read in PART ONE (1). This is uncharted territory for all concerned. Things can happen pretty slow or fast. Be prepared to handle your worst case scenario or it will handle you. Here is part TWO (2) of some data that can help you and keep you navigating throughthis very stressful procedure.

Of interest to agents, investors, homeowners, renters and even neighbors are what happens to a property before, during and after a foreclosure..........

Next time you leave your home, look around you and become aware of the people you see. Neighbors, friends, the grocer, strangers, your boss, even the mailman is in foreclosure....of some sort.

Renters....Obama says you have to receive a ninety (90) day notice to vacate. In addition, cash for keys and relocation expenses are part of potential negotiations. You are covered under the landlord/tenant laws for your appropriate state. Unlawful Detainer action is required if you holdover. In California specifically Riverside County, this can take months. Check with your local courts. However, sooner or later....you will be moving...........with minor exceptions......

If Bank takes it over, they may let you stay for their sake as well as your own...in that order. Rent is negotiable. Tens of millions of dollars are being assessed against REO's that are in violation of local city and state code enforcements. Having a tenant in the property minimizes this problem until it can be sold. In addition, it keeps homeless out and damages from break-ins to a minimum.

If Investors take it over....you can expect a quick eviction to take the property back. I cover ths in detail in part three (3). Investors are driven and motivated by money through the return on investment (ROI). You will not find the love of Jesus at work here.....but instead cold, hard business. You are a problem to them.

WORTH NOTING: Insurance companies have clauses where they wont pay if a property is vacant for a certain length of time and if damaged during that time. Each policy has its own language. That means the bank eats the loss if the house has a problem while it sat vacant too long. Results...... the insurance doesn't pay.

Owners.....you are squatters and right after the trustee sale, subject to a three (3) day notice to vacate the premises. In one instance, an owner, who just received several FedEx requests from a lender to send in documents was stunned to answer their door at 11:00 am to find out that their home was sold at 10:00 am that morning. "You are trespassing and have no rights or claims to the property".. says the guy delivering the notice. "The new owner is not obligated to you and will apply to the courts for relief. If you fail to obey the three (3) day notice, you will be served with a summons and complaint and be given 5 days to respond with an answer". Welcome to nightmare on your street.

The answer you file to the complaint that they filed against you....has to have solid ground and legs to make it move forward in the eyes of a Judge. If it does past muster, then a trial date is set. If the judge finds there are no grounds to schedule a trial, the moving party will ask for a summary judgment that will lead to a court order that can go to the Marshall/Sheriff's office. They in turn will give you very short notice to get out. Call your local office for details and times. Each state has its requirements. In California, this whole procedure can have you out in 3 weeks and 6 weeks if you fight and lose (with exceptions). Meanwhile, you suffer.......mentally, emotionally, physically,psychologically and spiritually.

Failure to get out.....when they come to put you out..... is not a good thing. You will be forcible removed from the premises and your items moved to the street. There are other variations of this...all unpleasant. Majority of people leave valuable furniture and items behind not having the resources to take them.

If you are considering bankruptcy to stall off this procedure, you may prolong it by 30 days. This depends on a lot of factors. Savvy investors move swift and sure and can move the system forward at light speed to their advantage. Other less savvy property takers take longer, but the outcome remains the same ...you will be out of there one day soon.

Lawsuits to file motions, challenge the action and other choices are available and will cost you time and money to trigger. Whether these can succeed ...who can say? Meanwhile, you are obsessed, consumed and occupied with having a roof over your heads and you are fighting the good fight and the insult to all this is SO IS THE OTHER GUY......what horror.

GO TO PART THREE (3) OF THIS SERIES UNDER THE SAME TITLE AND READ ABOUT THE INVESTORS OFFERS

ALSO AVAILABLE AT MY ACTIVERAIN HOME PAGE BLOG PARTS 1...2....3

Posted by

Richie Alan Naggar Ran Right Realty Riverside, Ca

Real Estate Broker and AUTHOR of the popular "PEARLS SERIES"of books on LIFE and LOVE

There is no telling how fast or sneaky the process will be. And yet, everyday owners & tenants go about their lives with the nagging worry that when they go "home" all of their belongings will be scattered in the lawn!

Jenna....you have spoken the truth. Keeping this truth in the shadows doesn't make it any less truth. When someone loses their home, we are not criminals nor are we trash......we want to be treated like someone who needs help. Isn't it obvious we didn't create this? Working together so that we all win is the way........

It is always a sad situation when someone looses their property but many of them stick their heads in the sand and ignore the notices that are put on their door. That only makes the situation worse. I always treat the folks with the utmost respect when I go to the door with my REO assignments.

Hi Cameron....my friend..... there is an abundance of unfortunate ignorant people with all the traits you describe and then some. God made many so that people like us can help people like them. I am 58 and I finally get it.....I am licensed to protect the customer and they just do not know what they are doing. However, I do..... and I will fight for them when I can. Reminds me of the man who originated that statement...."forgive them for they know not what they do". This does not apply to banks however......see revelation for that....

I help relocate people too.....that is where the real prize is. To really help someone. Real Estate was here before human beings were. But once we came......, we became the most valuable thing on this planet. Not the other way around.....

WELL........it was a good run and post. The comments and response were of the highest quality because it came from people who really cared. For a true lover of Real Estate and people, I would expect no less. In every part of each of our lives, there are opportunities that present themselves from minute by minute to daily deliveries. That is when we....as individuals can demonstrate who and what we are. It can be your finest hour and the reason why you were created. Those moments are to be cherished and sought after. Wrong actions by anyone, once identified... have to be exposed, corrected and redirected to do good....not harm. The lenders are out of control and people are suffering for it... and talk will not eliminate pain, sorrow or afflictions. The coveted name of the HUMAN RACE is teetering on the brink of destruction if we do not take a stand for what we know is right in our hearts when the opportunities present themselves.....no matter what the risk involved is to do so. Failure to respond....earns us the title of the INHUMAN RACE and from there, we join the animal kingdom having lost the privilege of being made in the image of God.......thank you all very much for lending your hearts to the subject matter.

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